ChargePoint Holdings had its Relative Strength (RS) Rating upgraded from 67 to 74 Friday -- a welcome improvement, but still shy of the 80 or better score you prefer to see.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks tend to have an 80 or higher RS Rating as they begin their biggest runs. See if ChargePoint Holdings can continue to rebound and hit that benchmark.
See How IBD Helps You Make More Money In Stocks
ChargePoint Holdings is now considered extended and out of buy range after clearing a 10.22 buy point in a first-stage flat base. It has yet to from a new base, so let's see if the stock forms forms one. Or maybe a follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings Update
The company posted -38% earnings growth last quarter. Sales gains came in at 93%.
ChargePoint Holdings holds the No. 18 rank among its peers in the Energy-Alternative/Other industry group. Freyr Battery and Kenon are also among the group's highest-rated stocks.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
